Meta Allegedly Profited by $16B From Scam Ads. US Senators Demand FTC, SEC Probe

US Senators Josh Hawley and Richard Blumenthal are calling for an investigation into Meta over its alleged role in profiting from scam-laden advertisements on Facebook and Instagram. The demand follows a Reuters investigation reportedly based on internal Meta documents that estimated that nearly 10% of Meta’s 2024 revenue — about $16 billion — came from alleged “illicit advertising.” In a letter to the Federal Trade Commission and the Securities and Exchange Commission, the lawmakers urged regulators to “immediately open investigations and, if the reporting is accurate, pursue vigorous enforcement action … to force Meta to disgorge profits, pay penalties and…